GRADATIM

50 MILLION ENROLMENTS.

250+ BANCASSURANCE PARTNERS.

HYPER AUTOMATED.

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Jan-Dhan Yojana

The Pradhan Mantri Surakha Bima Yojana (PMSBY) is a one year accidental insurance scheme and it is available for a one year period and is renewable every year. It offers insurance coverage for death due to specifically due to accidents. It is available for people in the age group of 18 to 70 years having a savings bank account who gives their approval to join and enable auto-debit.

Pradhan Mantri Surakha Bima Yojana (PMSBY) scheme is offered / administered through general insurance companies. For enrolment banks have tied up with insurance companies. Participating Bank is the holder of master insurance policy.

High Volume

A mass product requires a very high processing capability. Gradatim customized its platform to handle a peak volume of over 1.5 Million enrollments per day. This was achieved by using a services architecture that allowed for batch mode execution. A total of 50 million enrollments were processed in a year.

A new

API

structure

Flexible

upload

Not all bancassurance partners are equivalent in terms of capabilities. Integration with large banks, mid-sized banks, and even one-branch cooperative banks was required. For enrolments, smaller banks were given the choice of using Excel. Over 500+ smaller banks were given access to a test and live upload as a service.

Scheduler Powershell was deployed. Post each batch upload, the system would trigger a batch report that indicated underwriting failure records to the bank partner and the insurance entity. A transaction summary indicates if a batch was processed successfully and indicates successful records and failed records.

Hyper

automated

process

Payment

reconciliation

Bancassurance partners were given the option to auto credit premium pooling accounts. The solution tallies success records and balances the payment in real-time. Policy certificate issuance was put on hold until manual receipts and payments were reconciled. The task automated payment reconciliation among 250+ larger banks and 500+ smaller banks.

A real-time cost and benefit report was made available for insurance companies. A real-time portfolio cost and benefit report were extended to business heads involved with PMSBY and bancassurance. In a mass insurance program, this report is valuable as it provides a real-time loss ratio report. The claims process is also an integrated component of the implementation.

Cost and

Benefit

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+91 80 25258656; +91 80 25258676

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#246, SRS Plaza, 13 Cross, Indiranagar II Stage, Bangalore 560038, India

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